UBS analyst Ashwani Verma last night initiated coverage of Harmony Biosciences with a Buy rating and $56 price target. The firm says continued growth “is feasible” for Wakix while Harmony also offers pipeline diversification opportunities. The narcolepsy market can present more opportunities as awareness of narcolepsy increases the diagnosis rate from the current 50%, the analyst tells investors in a research note. UBS believes Wakix is well positioned in the polypharmacy market with its differentiated profile versus other approved drugs.
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